UK retailer Wilko collapses, risking 12,500 jobs

Newsletter Aug 11, 2023 [ International Business Times]( [UK retailer Wilko collapses, risking 12,500 jobs]( British household goods company Wilko has collapsed owing to big debts, its boss announced Thursday, impacting about 12,500 jobs as high inflation and interest rates hurt consumers and businesses. [Global stocks rise as US inflation inches up]( Stock markets rose Thursday as highly anticipated official data showed that US consumer inflation inched up in July but held at a moderate level.  [Learn more about Jeeng]( [UK grocery shoppers continue to struggle with 'shrinkflation' and 'drinkflation']( Grocery shoppers are feeling the pinch as "shrinkflation" continues to shrink product sizes while costs stay the same or increase, while the added woe of "drinkflation" impacts alcohol purchases. [Lufthansa pilots receive pay hikes to fight inflation]( Lufthansa pilots are to receive pay rises totalling 18 percent in the coming years, with the German airline saying Thursday it would bring "stability" after strikes over surging inflation. [Coach owner to acquire Michael Kors, Versace parent in $8.5bn deal]( Tapestry, the US owner of lifestyle brands including Coach and Kate Spade, said Thursday it will acquire Michael Kors parent company Capri for $8.5 billion, creating a new global fashion giant to compete with European powerhouses. [dianomi]( [British government announces £13 million in funding for healthcare before AI Safety Summit]( Ahead of Britain hosting the first AI Safety Summit this year, healthcare is set to be modernised with £13 million in funding handed to research projects. [Number of teen terrorists continues to rise in the UK]( Terrorist groups are recruiting young people by posting extreme content online. Since 2022, the number of young people involved in extremism has increased by 11 per cent. [US refuses to declare soldier who crossed into North Korea a 'prisoner of war']( The United States government has refused to classify its soldier Travis King as a prisoner of war (PoW) after he crossed into North Korea last month. [Foreign Secretary announces 25 new sanctions targeting Putin's access to Foreign Military Equipment]( Foreign Secretary James Cleverly unveils multi-country sanctions targeting entities aiding Russia's unlawful invasion of Ukraine. Measures aim to disrupt military equipment supply and counter-support nations. [Microsoft, Aptos Labs team up to build new blockchain AI tools]( Microsoft predicts that AI will be infused into web3 solutions in a larger scale in the "coming months and years." [X chief Yaccarino claims renamed Twitter 'close' to break-even]( Linda Yaccarino, CEO of social media platform X, said Thursday that the company formerly known as Twitter is "close" to breaking even and is hiring to beef up a staff slashed by owner Elon Musk. [Here's why Elon Musk hasn't confirmed date of cage fight with Mark Zuckerberg]( Elon Musk claims he might need a surgery ahead of his highly anticipated cage fight with Mark Zuckerberg. [Virgin Galactic rockets its first tourist passengers into space]( Virgin Galactic launched its first tourist passengers into the weightlessness of space Thursday, the culmination of a nearly two-decade commercial pursuit, the company said. [Record number of lifesaving essential medicines approval by WHO could make universal health coverage a reality]( The World Health Organisation has added over 500 lifesaving essential medicines to its essential list including the first approvals for multiple sclerosis. [New Covid strain dubbed 'variant of interest' by WHO]( The World Health Organisation (WHO) on Wednesday declared a new Covid strain called Eris as a variant of interest. [Nigeria receives £10 million to fund sustainable climate infrastructure]( A £10 million investment has been announced by a UK-backed funding program to create a Risk Sharing Backdrop Facility for Nigerian sustainable climate infrastructure. [Premier League chief insists Saudi Arabia is not a threat]( Several players from Europe have been tempted to move to the Saudi Pro League this summer. You Might Like    [Learn more about Jeeng]( [IBTimes]( IBTimes will always protect your security and privacy. Please read our detailed [Privacy Policy.]( Please do not reply to this email. [Click here]( to adjust your notification preferences or unsubscribe. © Copyright 2023 IBTimes LLC. All Rights Reserved. IBTimes LLC, 33 Whitehall ST FL 7, New York, NY 10004 U.S.A, New York, New York 10004, United States You may [unsubscribe]( or [change your contact details]( at any time.